Good thursday morning. Welcome to squawk alley. Im jon fortt with carl quintanilla. It is cloud week on squawk alley. If you were betting against snowflake, wur oyoure out in t cold this morning. That stock up is 12 same for Cloud Security and authentication specialist okta were going to talk to the ceo to see if this thing may stabilize from here or go higher splunk, that is the sound of a cloud stock dropping 22 after missing Sales Guidance for the third quarterer in quarter in a row. All this happening as amazons cloud conference is in full swing. Salesforce announced the second Biggest Software acquisition ever and we started the week on squawk alley talking to ibm president Jim Whitehurst who came to big blue in what and is still thelargest Software Acquisition ever redhat driven by a hybrid cloud. Julia, investors are betting on further growth from already heady levels we can certainly see that in what is happening with snowflake this morning it is reapproaching the highs that so
News cribber john solomon are here, joining me in the you 8 0. Earnings season rolling of on. Big banks on deck this morning. All the numbers as soon as they hit the tape and impact on markets. Broader markets pointing to a gain at the start of trading, dow industrials up 84, nasdaq up 28, the s p 500 up 10 o 10 poin. Yesterday stocks were sluggish over weak Quarterly Earnings and halted covid19 vaccine trials. At the end of the day, the s p 500 was lower by 22. Shiny now apple, the Technology Giant unveiling four new iphone 12s ss for your convenience. Coping tips from outer space, astronauts have isolation advice for the weary public and its making a buzz this morning. Mornings with maria is live right now. European markets in the green, take a look. The fq100 up 14, the cac is up 1 andahalf and the dax index higher by 15, fractional moves this morning in europe but to the upside. A mixed story overnight in asia, as chinese president xi jinping is calling for young People Living in h
Good thursday morning. Welcome to squawk alley. With Morgan Brennan and jon fortt at the New York Stock Exchange we watch the markets being whipped by some of the trade headlines. We also have two big ipos in focus today as well. We await the first trade of smile direct club. Lets bring in bob pisani to talk about that and overall iep landscape. We heard valuation is not there, does this mean the ipo market is overrated. Slack, first earnings report, growth wasnt as strong as people thought, not a good idea, growth is not as strong. Some software companies, now theres jitteriness. This week we had three big names, all being upsized waiting for smile direct to open 19 to 22 pricing at 23 looks like and ten x genomics. Upped it to 38 it opened at 54 talking little more than a week ago, 31 to 35. We open at 55 a gene sequencing company, biotech is a hot space overall we wait tomorrow for cloud fair. Another software company, out there, Website Security and other things, was 10 to 12, 35 m
Doctor subcommittee will come to order at ask unanimous consent the chair could declare recess in a timer that objections order. Good morning everyone thank you for we are here today to discuss one of the most with the u. S. Arsenal. That is software. It is crucial to our ability very in the air, the sea come , onlinein space anderspace. Aircraft carriers will be able to leave our pier they can deliver a payload over its target we expect the system and code we rely on work whenâ– j needed. Despite this was seo dartmenterg and prioritizing software. Congress do know when something is wrong and something is right or in something is working or w. We read the studies repeatedly noting the department struggles with software findings that are remarkably consistent the 1980s untilin today. Its fundamentally amiss. My hope is for the witnesses to not only describe the problem but contextualize where possible what is being done to date with the largest barriers have been to address these issues
On cspan2. Next we hear from policy experts on the role of software in defense deptment systems and its use for innovation they also talk about the defense departments culture to enhance modernization and attract talent. This is held by the House Armed Services committee. The subcommittee will come to order. I ask unanimous consent that the chair be authorized to declare recess at any time. Without objection, ordered. Good morning, everyone, thank you for attending. We are here today to discuss one of the most critical enablers within the u. S. Arsenal, software. Software that the war fighter uses is krucial to our ability to conduct operations in the air, in the sea, on land, in spice and in cyberspace. Aircraft carriers will be able to leave you are pier, we expect that the systems and code that we rye rely on will work when needed. Despite this criticality we see a department that collectively struggles in procuring, operating, and prioritizing software. Congress do know when someth